WeWork India to Launch INR 3,000 Crore IPO on October 3: Key Details and What to Expect

According to various media reports, WeWork India, a prominent co-working company, is preparing to conduct its initial public offering (IPO) on October 3. With an estimated price range of INR 615 to INR 648 per share of face value INR 10 each, the issue size is estimated to be close to INR 3,000 crore.. The red herring prospectus (RHP) states that the issue will close on October 7 and that anchor investor bidding will start for one day on October 1.

The planned IPO is only an Offer for Sale (OFS) of up to 4.63 crore equity shares, according to the draft documents. Shares will be sold by investor 1, Ariel Way Tenant Ltd (a division of WeWork Global), and promoter group company Embassy Buildcon LLP. The listing will not generate any revenue for WeWork India since the issue is an OFS. Currently, WeWork Global owns 23.45% of WeWork India, while Embassy Group owns roughly 76.21%.

WeWork India Aims to Benefit From Going Public

WeWork India was founded in 2017 and is run under an exclusive license of the “WeWork” name in India. It is supported by the Embassy Group, a significant real estate company based in Bengaluru. The goal of the offer, according to WeWork India’s draft documents, is to reap the rewards of listing its equity shares on stock exchanges.

The company anticipates that the listing will increase visibility, give current shareholders liquidity, and create a public market for its stock in India. WeWork Global collected INR 500 crore through a rights issue in January 2024, mainly to fund expansion and decrease debt, after investing $100 million in 2021.

Major tier 1 cities such as Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai are home to WeWork India’s activities. With a desk capacity of 1.03 lakh, it now oversees 77 lakh square feet of area, of which 70 lakh square feet are used for operations. Over 500 people work for the company. WeWork India is anticipated to make its stock exchange debut on October 10th, with the initial public offering (IPO) taking place in early October.

IPO Getting More Popular Among Startup Sector

Due to a robust IPO market and a resurgence of investor interest in tech equities, a number of technology businesses intend to go public in 2025.

Lenskart, an eyeglasses startup, has contacted investment banks to present for the mandate for its possible initial public offering (IPO), which may raise $1 billion. Groww, a stock broker, had selected five investment banks for a $1 billion initial public offering.

In the near future, startups like SoftBank-backed OfBusiness and contract maker Zetwek hope to raise $1 billion through initial public offerings (IPOs). Up to 25 firms hope to debut on the public market in 2025.

This comprises companies that aim for $500 million initial public offerings (IPOs), such as edtech company PhysicsWallah, AI unicorn Fractal, construction materials portal Infra.market, and leader in rapid commerce Zepto.

With solid institutional support and a broad range of digital payment and issuance tools designed for India’s quickly digitising commerce sector, Pine Labs’ initial public offering (IPO) is anticipated to be a notable fintech listing in 2025.